August 29th (Eastern Time) - $ARCA biopharma (ABIO.US)$ is about to implement a 1-for-12 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from September 3rd, 2024.
$ARCA biopharma (ABIO.US)$ slipped 10.05% and closed at $1.8769918 on August 28th with a turnover of $940.64K. $ARCA biopharma (ABIO.US)$ now has a total market capitalization of $27.22 million.
What Is a Reverse Stock Split?
A reverse stock split consolidates the number of existing shares of stock held by shareholders into fewer shares. It does not directly impact a company's value. And it can signal a company in distress since it raises the value of otherwise low-priced shares.
Note:
The company's actual implementation is subject to the final disclosure submitted to the exchange. The information provided herein is for reference only.